Smith & Williamson Investment Management launches Nucleus Enterprise Fund

Smith & Williamson Investment Management is to launch the Nucleus Enterprise Fund, a long/short equity hedge fund, on 3 April 2006.

This new hedge fund aims to achieve long-term capital appreciation irrespective of market conditions. It will have a relatively low turnover holding both long and short positions on a medium to long-term view. The initial offer period runs from 1 - 31 March 2006, with monthly redemptions and subscriptions thereafter.

Fund manager Mark Boucher ran The Enterprise Long/Short Equity Fund from its launch in October 1998. This was a UK equity hedge fund with one of the longest track records in the industry. The Nucleus Enterprise Fund will aim to provide a low double-digit annualised return with low volatility.

Mark said: “We are delighted to be launching the Nucleus Enterprise Fund. We aim to maximise the upside while controlling the downside through prudent use of long/short equity investments. Investors will be provided with transparency and direct access to us as fund managers.”

The Nucleus Enterprise Fund is aimed at high-net worth individuals, independent financial advisers, institutions and multi-manager funds. It requires a minimum initial subscription of US$100,000 or its sterling equivalent and carries a 10% performance fee and 1.5% management fee.


For further information, contact:
Mark Boucher at Smith & Williamson Investment Management
Tel: 020 7131 4556

Rupert Fleming at Smith & Williamson Investment Management
Tel: 020 7131 4675


Disclaimer
By necessity this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Information correct at time of writing.

Contact:

PR enquiries
Layisha Laypang, tel: 020 7131 4550
Kate Harrison, tel: 020 7131 4228

Note To Editors:

Smith & Williamson is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-size corporates. It operates from offices in London, Belfast, Bristol, Glasgow Guildford, Salisbury, Southampton, Tunbridge Wells and Worcester.

Smith & Williamson’s investment management business has over £7 billion funds under management and advice, making it one of the largest private client investment managers in the UK.

In December 2002, Smith & Williamson merged with NCL (Securities) Limited (incorporating Cunningham Coates). Cunningham Coates is based in Belfast and continues to operate under that name.

Earlier this year, Smith & Williamson merged with Solomon Hare to form a group with turnover in excess of £125 million, making it the 8th largest UK accounting and financial advisory firm (according to figures in the latest survey by Accountancy Age magazine).

David Johnstone Smith founded Smith & Williamson in Glasgow in 1881. He went into partnership with Andrew Williamson three years later. At first the partnership was known as D. Johnstone Smith & Williamson, but this soon changed to Smith & Williamson. The firm’s first London office was opened in 1893.

Smith & Williamson Limited
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International, a worldwide network of independent accounting firms.

Smith & Williamson Investment Management
A trading name of:

NCL Investments Limited
Member of the London Stock Exchange
Authorised and regulated by the Financial Services Authority
and of:

Smith & Williamson Investment Management Limited
Authorised and regulated by the Financial Services Authority

Solomon Hare LLP
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.